Budget 2021: Union Finance Minister Nirmala Sitharaman presented the General Budget in the Parliament for the financial year 2021-22 today. It has not provided relief to the general income taxpayers. The budget estimates the fiscal deficit to be 6.8 percent this year. The government has reduced customs duty from gold and silver. At the same time, mobile and charger have been made expensive.
10 main things related to the budget-
1- Nirmala Sitharaman told that there will be privatization of 2 public sector banks (PSUs) as well as additional land of government companies will be sold, besides the government will privatize IDBI bank. Also, assets to deal with the stuck debts of banks A restructuring and management company will also be formed.
2- The Finance Minister said that the initial public offering of LIC will be brought, after which the shares will be sold. With this, permission has also been given to increase foreign investment (FDI) in insurance companies. In this budget, foreign direct investment (FDI) in insurance companies has been increased to 74 percent. Till now only 49 per cent FDI was provided in the insurance sector.
3- The health budget in 2021-22 is Rs 2.23 lakh crore and has been increased by 137%. In this budget, Rs 35,000 crore has been proposed for vaccination against corona virus. The Finance Minister said that he has provided Rs 35,000 crore for Corona vaccine. But further funds will be provided if needed. And this year 15 new emergency centers will be opened across the country.
4- In the budget, Finance Minister Nirmala Sitharaman has said that start-up companies will be allowed to operate at the beginning without any restriction, along with the Finance Minister in this budget, Micro, Small and Medium Enterprises (MSME). ) Has made a provision of Rs 15,700 crore for the sector.
5-Nirmala Sitharaman proposed to increase capital expenditure by 34 percent as compared to the budget estimate (BE) of the previous financial year. According to which the Finance Minister has proposed to increase the capital expenditure from Rs 4.12 lakh crore to Rs 5.54 lakh crore in the Budget Estimates FY 2021.
6- In this budget, the Finance Minister has announced a record amount of Rs 1.10 lakh crore for the Railways. Of this, Rs 1.07 lakh crore is for capital expenditure.
7- In the budget, the Finance Minister also made many big announcements for the electoral states. The Finance Minister has paid heavily for West Bengal, Tamil Nadu, Kerala and Assam. A total of 2.27 lakh crore has been announced for road infrastructure in the contested states.
8- This year’s budget has given a big blow to the people hoping for tax relief. The Finance Minister has not made any changes in the tax slab. However, tax relief will be given to senior citizens in the budget. Senior citizens who have passed the age of 75 will no longer need to file a small tax return.
9- In this budget, the Finance Minister has made a big announcement about the issue of MSP. The Finance Minister has said that the government will give more MSP to the farmers than the cost incurred in the cultivation of the farmers. Along with this, the Agri Infra Fund for APMC has also been announced in the budget.
10- Lokpal has been allocated about 40 crores in this budget for the financial year 2021-22. The Lokpal was allocated Rs 74.4 crore for the current financial year, which is now proposed to be reduced to Rs 29.67 crore, while a total of Rs 39.67 crore has been allocated for the Lokpal for the next financial year.
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